Freterium, a provider of transportation management software based in Morocco, has revealed that it has raised $4 million in its most recent fundraising round, which concluded in December. Partech led the SEED round, with participation from Y Combinator, Flexport, CDG Invest, Swiss Founders Fund, Outlierz Ventures, and Business Angels from the United States, Europe, Asia, and Africa.
“This $4 million funding round is an endorsement of our unique model and approach, our team’s capabilities and the tremendous market opportunity. We are grateful for the support of the finest investors that share our vision and our values. The timing is right to scale our product across the region and beyond. For most companies, logistics challenges have become a boardroom conversation. We are already trusted by leaders in their respective industries, and we look forward to putting our product at the Morocco-based T&L Tech startup currently has 20+ enterprise customers and more than 3,000 users of its software disposal of many small and large players that need us,” says CEO Mehdi Cherif Alami.
Freterium has become one of the most well-funded firms in the burgeoning Moroccan ecosystem as a result of this fundraising round.
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To drive expansion and service additional companies in Africa and the Middle East, the startup wants to invest its newly acquired capital in its technology and product development. Within the following 12 months, they intend to also double the team’s size.
Why The Investors Invested
“We have been looking closely at the freight trucking market in Africa & the Middle East for the past 5 years, a market worth $250Billion. 85% of the volume is carried through established legacy partnerships between shippers and carriers and still runs with manual, inefficient tools. Freterium has built a holistic approach to solving the key challenges of the industry with a next-generation cloud-based Transport Management Software (TMS) allowing shippers to connect efficiently with their entire logistics ecosystem and collaborate in real time. We are excited to support them in their mission to empower manufacturers, retailers and logistics teams across Africa” commented Cyril Collon, General Partner at Partech.
“The value proposition of Freterium is unique and we are convinced that their product will significantly impact the industry. It’s a Moroccan gem that we are proud to support in its development and growth.” concluded Yassine Haddaoui, Managing Partner at CDG Invest.
A Look At What The Startup Does
Freterium, which began operations in Morocco in 2020, has witnessed rapid growth in 2021, and has built a second office in the United Arab Emirates to serve the region’s bordering markets. Their solution, a next-generation Transport Management Software, allows shippers to collaborate in real-time with their complete logistics ecosystem, saving time and money. Freterium’s simple and straightforward interface is geared at any firm that distributes items on a daily basis: manufacturers, distributors, retailers, and logistics providers across industries can handle all of their shipments in just a few clicks.
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Mehdi Cherif Alami, CEO, and Omar El Kouhene, CPO, are Freterium’s co-founders. They previously worked in consulting and logistics, assisting global and local players with strategy and operations.
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Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer